AdvancePierre Foods Announces Launch of Repricing of First Lien Term
Loan

November 28, 2016 08:27 AM Eastern Standard Time

CINCINNATI--(BUSINESS WIRE)--AdvancePierre Foods Holdings, Inc. (NYSE: APFH) (“AdvancePierre” or the
“Company”) announced today that it is seeking to reduce the applicable
margin and the overall price under its existing first lien term loan
maturing in 2023 with an aggregate outstanding principal amount of $1.1
billion (the "First Lien Term Loan"). The repricing of the First Lien
Term Loan would be effected as an amendment to the existing credit
agreement for the First Lien Term Loan, subject to customary conditions.
There can be no assurance that AdvancePierre will be successful in
repricing the First Lien Term Loan on reasonably acceptable terms, or at
all.

This press release shall not constitute the solicitation of an offer to
sell or an offer to buy any securities.

Forward-Looking Statements

This press release contains "forward-looking statements." These
statements relate to the proposed amendment and other statements that
are not historical fact. Forward-looking statements are based on
AdvancePierre's current expectations and assumptions. Because
forward-looking statements relate to the future, they are subject to
inherent uncertainties, risks and changes in circumstances that may
differ materially from those contemplated by the forward-looking
statements, which are neither statements of historical fact nor
guarantees or assurances of future performance. Important factors that
could cause actual results to differ materially from those in the
forward-looking statements include market conditions, customary closing
conditions and such other risk factors as may be discussed in
AdvancePierre’s filings with the Securities and Exchange Commission.

About AdvancePierre Foods

AdvancePierre, headquartered in Cincinnati, Ohio, is a leading national
producer and distributor of value-added, convenient, ready-to-eat
sandwiches, sandwich components and other entrées and snacks to a wide
variety of distribution outlets including foodservice, retail and
convenience store providers. With revenues of $1.6 billion in 2015 and
more than 4,000 employees, the Company offers a broad line of products
across all day parts including: ready-to-eat sandwiches, such as
breakfast sandwiches, peanut butter and jelly sandwiches and hamburgers;
sandwich components, such as fully cooked hamburger and chicken patties,
and Philly steaks; and other entrées and snacks, such as country-fried
steak, stuffed entrées, chicken tenders and cinnamon dough bites. A fund
managed by Oaktree Capital Management, L.P., a Los Angeles-based
investment firm, is the majority shareholder of AdvancePierre.